Analyst Briefing
28 Janvier 2004 - 12:00PM
UK Regulatory
RNS Number:7216U
iSoft Group PLC
28 January 2004
28 January 2004: embargoed for release at 11am
iSOFT Group plc ("iSOFT" or the "Company")
Analyst briefing
At 11.00 am today, iSOFT will be briefing analysts on the impact on the Company
of the NHS National Procurement for Information Technology ("NPfIT") and on
latest developments in the competition authorities' review of its merger with
Torex PLC ("Torex").
The NPfIT
iSOFT will confirm that it has been selected as principal applications provider
in respect of the following regions:
Region Local Service Provider Expected initial total contract
value to iSOFT*
East Accenture #89 million
North East Accenture #79 million
North West & Midlands CSC #132 million
*In respect of software licence and maintenance fees only.
The initial focus of the National Programme will be to commence a four year plan
to install and run new systems.
Competition review
The review by the Office of Fair Trading ("OFT") of the merger of iSOFT with
Torex is nearing completion. The OFT decision is anticipated following the
outcome of the Court of Appeal hearing of the appeal from the Competition Appeal
Tribunal, which is expected to commence on Tuesday 3 February.
In the meantime, as this is a completed merger, iSOFT has given undertakings to
the Office of Fair Trading, in accordance with section 71 of the Enterprise Act
2002 (the "Act"), that it will not, prior to the conclusion of the review by the
UK competition authorities, take any action which might (a) lead to the
integration of the Torex UK healthcare IT business with the business of iSOFT or
(b) prejudice any reference to the Competition Commission or impede the taking
of any action under the Act which may be justified by the Commission's decision
in the event of a reference. These undertakings are without prejudice to the
OFT's ultimate decision. Further information in this regard is expected to be
published in due course on www.oft.gov.uk.
Commenting on the announcement, Patrick Cryne, Chairman of iSOFT, noted:
"This is a very exciting time for iSOFT. We are very pleased by the outcome of
the NPfIT and by the completion of our merger with Torex, and look forward to
realising the opportunities now open to us."
Ends
Enquiries:
iSOFT Group plc: +44 (0) 161 935 8800
Patrick Cryne, Executive Chairman
Tim Whiston, Group Finance Director
Hoare Govett Limited: +44 (0) 20 7678 8000
Chris Fielding
Andrew Chapman
Financial Dynamics: +44 (0) 20 7831 3113
Giles Sanderson
James Melville-Ross
This information is provided by RNS
The company news service from the London Stock Exchange
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